GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) Trading 10.4% Higher – Should You Buy?

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL)’s stock price traded up 10.4% during mid-day trading on Friday . The company traded as high as $5.44 and last traded at $5.6750. 4,643,007 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 18,778,734 shares. The stock had previously closed at $5.14.

GraniteShares 2x Long COIN Daily ETF Stock Performance

The business’s 50 day simple moving average is $5.09 and its 200 day simple moving average is $6.61.

Institutional Investors Weigh In On GraniteShares 2x Long COIN Daily ETF

Large investors have recently modified their holdings of the company. UBS Group AG increased its stake in shares of GraniteShares 2x Long COIN Daily ETF by 64.8% during the third quarter. UBS Group AG now owns 1,951,379 shares of the company’s stock worth $72,982,000 after acquiring an additional 767,632 shares during the period. Optiver Holding B.V. increased its stake in GraniteShares 2x Long COIN Daily ETF by 232.2% during the first quarter. Optiver Holding B.V. now owns 129,394 shares of the company’s stock worth $906,000 after acquiring an additional 90,448 shares during the last quarter. IMC Chicago LLC acquired a new stake in GraniteShares 2x Long COIN Daily ETF in the first quarter valued at $814,000. Renaissance Technologies LLC boosted its position in shares of GraniteShares 2x Long COIN Daily ETF by 91.2% during the fourth quarter. Renaissance Technologies LLC now owns 91,600 shares of the company’s stock worth $1,342,000 after buying an additional 43,700 shares during the period. Finally, HRT Financial LP lifted its stake in GraniteShares 2x Long COIN Daily ETF by 165.2% in the 4th quarter. HRT Financial LP now owns 38,071 shares of the company’s stock worth $557,000 after acquiring an additional 23,716 shares in the last quarter.

About GraniteShares 2x Long COIN Daily ETF

The GraniteShares 1.5x Long Coinbase Daily ETF (CONL) is an exchange-traded fund that mostly invests in financials equity. The fund provides 1.5x leveraged exposure, less fees and expenses, to the daily price movement for shares of Coinbase stock. CONL was launched on Aug 9, 2022 and is managed by GraniteShares.